Travers Smith posts revenue rise to £125m as PEP dips below £1m mark

Firm cites impact of Brexit vote and costs of strategic investment as partner profits fall

Travers Smith has posted a 3.8% turnover increase for 2016-17, with profit per equity partner (PEP) falling 4.4% amid a ‘challenging’ period for the City firm.

Turnover rose to £125m, up from last year’s figure of £120.4m, while PEP dipped below the £1m mark to £970,000, down from £1.015m last year.

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